Albany, NY -- (SBWIRE) -- 11/13/2017 -- According to TMR, the global field service management market is expected to reach US$8,593.6 mn by the end of 2025. Between 2017 and 2025, the global field service management market is forecast to exhibit a CAGR of 14.1%. In terms of industry verticle, the global field service management market was dominated by telecom and IT. Regionally, Asia Pacific and Europe is likely to cover nearly 40% of the global market by the end of 2017.

Global Field Service Management Market: Overview

The report on the global field service management market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global field service management market growth during the said period. Technologies that are playing a major role in driving the global field service management market have also been covered in the study. The study provides a comprehensive analysis on market growth throughout the above mentioned forecast period in terms of revenue estimates (In US$ Mn) across different geographies.

Field Service Management can be defined as the managing of a company's resources which may be en route or employed at client's property, rather than company's property. Among many examples of field service management, prominent ones are the locating of vehicles, scheduling and dispatching of work, managing worker's activities, accounting, billing etc. There are many benefits of field service management software. Some of these are growth in revenue, reduction of cost, better resource allocation and co-ordination. These software also take care of the billing, statement of work and provide oversight.

The global field service management market is segmented on the basis of solution, service, deployment type, user type and industry vertical. On the basis of solution, the market is segmented in to billing and invoicing, inventory management, mobile field execution, reporting and dashboards, schedule and dispatch, tracking and performance management, and work order management. In 2016 among the solution segment, the majority revenue share in the global field service management market was held by work order management sub-segment. The inventory management segment is expected to be the fastest growing segment during the forecast period.

On the basis of service, the market is segmented in to consulting, implementation, and training and support.

On the basis of deployment type, the market is segmented in to cloud and on-premises. In 2016, among the deployment type segment, on-premises sub-segment held the majority revenue share in the global field service management market. Based on user type, the market is segmented in to small and medium enterprise (SME) and large enterprise.

On the basis of industry vertical, the market is segmented in to BFSI, construction and real estate, energy and utilities, healthcare, manufacturing, telecom and IT, transportation and logistics, and others. In 2016, the market on the basis of industry vertical was be dominated by telecom and IT while manufacturing sub-segment is projected to grow at rapid pace. Geographically, the report classifies the global field service management market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America; the regions are analyzed in terms of market revenue. Furthermore, region wise prominent countries covered in the report include the following - the U.S, Canada, Germany, France, the U.K., China, India, Japan, Gulf Cooperation Council (GCC), South Africa and Brazil.

The report also describes key developments in the field service management market. Porter Five Force analysis and financials are included in the report. The report also covers segment wise comparison matrix, market attractiveness analysis and market share analysis for all regions covered in the scope of study.

The competition landscape section in the report includes competition matrix, market share analysis of major players in the global field service management market based on their projected value share, and business profiling of major players. The competition matrix benchmarks leading players on the basis of their capabilities and potential to grow. Factors including market position, offerings and R&D focus are attributed to a company's capabilities. Factors including top line growth, market share, segment growth, infrastructure facilities and future outlook are attributed to company's potential to grow. This section also identifies and includes various recent developments with respect to the leading players.

Major players in the field service management market include Oracle Corporation, SAP SE, ClickSoftware Technologies Ltd., Astea International Inc., Coresystems AG and IFS AB (Industrial and Financial Systems). Other prominent players in the field service management market are Microsoft Corporation, Praxedo, Retriever Communications Pty Ltd. and ServiceMax, Inc.

The Global Field Service Management Market is segmented as below:

Global Field Service Management Market, By Solution

Billing and Invoicing
Inventory Management
Mobile Field Execution
Reporting and Dashboards
Schedule and Dispatch
Tracking and Performance Management
Work Order Management